BUILDING BRIDGES Supporting businesses by lending good money to good businesses.
May 2010 - Vol 3, Issue 5 |
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Greetings! |
Last month, I had the opportunity to attend the International Factors Association (IFA) conference in Scottsdale, Arizona, which is an annual event for the purpose of networking with others in the factoring business around the country. Some key discussions were targeted at what our industry can do to better serve our clients and customers.
For the first time, my brother Johnny Mazon attended the IFA conference. What a pleasure to share this experience with him! Johnny will be moving with his family from Knoxville, Tennessee to Irving, Texas in June to join us at Mazon Associates. He will add a new dimension to our business. I look forward to all he will bring to our company.
Many of the entrepreneurs featured in Building Bridges each month have come from large families with impoverished upbringings, who started making money at very young ages, struggled to make it to the top and have inspired others through their experiences. James Penney is another one of those great examples we are spotlighting this month.
Remember, Mother's Day is May 9th. Please share this special day with your mother, grandmother or a special mother in your life.
Happy May!
Lisa Mazon
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$$$ Refer & Earn $$$ |
 Business contacts, friends, family and acquaintances -- you just never know when someone you know might need Mazon's accounts receivable services. See our referral program at the end of this newsletter. |
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Entrepreneur of the Month: James C. Penney |
On a small Hamilton, Missouri farm, James Cash Penney made his appearance into the world on September 16, 1875. The seventh of 12 children (only six who grew to adulthood), his father was a poor farmer and an unpaid Baptist minister. Life was joyless and difficult for the family, but they lived a Christian life, believed in the Golden Rule, self-reliance, self-discipline and honor. Young James learned the value of money and self-reliance at the age of 8 when he was told that he would be responsible for buying his own clothing. To earn the money, James purchased a pig, fattened it up, and sold it for a profit. He then bought others until the neighbors complained (perhaps from the noise and/or odor) and he then turned to growing and selling watermelons. James graduated from high school in 1893. Having no money for further education, he secured a job with a local clothing store. In poor health two years later, he moved to Colorado to regain his strength. He worked briefly as a clerk at two dry goods stores in Denver before purchasing a butcher shop in Longmont, which went bankrupt when he refused to donate whisky to a cook at a local hotel (his largest customer) just to obtain their business. He joined the Golden Rule Mercantile Company shortly after that and worked at their first store in Evanston, Wyoming. In three years, he became a one-third owner of that store and accepted a transfer to a new Kemmerer, Wyoming store. Encouraged by the chance to share ownership in more Golden Rule stores, he lived frugally in an attic room over the store with his wife and son (furniture was made from boxes and shipping crates) and worked 13+ hours per day toward his goal of some day owning a chain of stores. Within a few years, Penney found himself part-owner of two more stores. Shortly after that, his two partners dissolved their partnership and James bought up their rights, making him the sole owner of the Golden Rule Mercantile Company. He envisioned stores across the Rocky Mountains and insisted on offering customers quality merchandise at the lowest possible prices. In January 1913, he incorporated the 48 stores he then owned and changed the name to J.C. Penney Company.
James built his chain of retail stores on the same principle as the Golden Rule Mercantile Company: delegating responsibility, putting his faith in his people and eventually making them partners when new stores were opened. Individual store managers shared one-third of the profits, in his opinion a motivating factor for success in business. In 1927, with over 1,000 stores, full incorporation was necessary and required managers to exchange their partnership arrangements to stock in the company. Then, a major financial disaster struck in the 1929 stock market crash and he lost $40 million. He wound up weakened in spirit and health and faced a $7 million debt at the age of 56. But he was able to start over again with money borrowed on his life insurance, and soon regained control of his empire. In his later years, he reflected: "I believe in adherence to the Golden Rule, faith in God and the country. If I were a young man again, those would be my cardinal principles." He was president of J.C. Penney Company until 1917, chairman of the board of directors from 1917 to 1946, and honorary chairman of the board from 1946 to 1958.
During his 95 years, James Penney was married three times and had five children. He married his first wife, Berta Hess, in 1899 and had two sons; Berta died in 1910. In 1919 he married Hortense Kimble, who died in childbirth in 1923. He was married again in 1926 to Caroline Autenrieth and they had two daughters. Their marriage lasted 45 years, until James died of a heart attack on February 12, 1971. (Caroline Penney died in 1992). At the time of his death, there were 1,600 J.C. Penney stores with annual sales of over $4 billion and all 50,000 employees, or "associates" as Penney called them, shared in the profits.
Since 1992 J.C. Penney Company has been headquartered in Plano, Texas. The company currently has 1,110 stores nationwide and approximately 150,000 associates. Revenue for 2009 was $17.6 billion.
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Does Mazon offer purchase order financing or financing for work in progress? |
 No, Mazon does not provide funding for work in process or products not yet delivered. We provide only cash flow funding of invoices for goods and services that have been satisfactorily delivered and/or performed and billed in arrears. We may, however, be able to refer you to a financing source who works with in-progress or purchase order funding.
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Numbers in the News |
Now that winter has passed, people are doing more outdoor activities and thoughts of gasoline safety should be foremost in everyone's thoughts when doing lawn work, repairing vehicles, boating and fishing, camping and other activities that may require the use of gasoline. The American Burn Association urges people to handle gasoline with care, and provides the following tips: Don't smoke or use matches, lighters, or other ignition sources anywhere around gas -- gas vapors can travel far from gas containers in enclosed areas. Use gasoline only in well-ventilated areas. Turn off equipment and let cool before filling the gas tank. Never use gasoline to start charcoal on a grill -- use proper charcoal starter. Never use gasoline as a cleaning fluid or solvent -- or to clean your hands. Don't store gas cans in your vehicle. Store gasoline in approved containers, in a cool, well-ventilated area (i.e. in a shed or garage but never in the house), and only keep a minimum amount on hand. Never use glass or plastic bottles for gasoline storage.
Chevron Corp. advises that when filling gasoline containers, only fill the container about 95% full. If the container is 10 inches tall, leave ½ inch (5%) between the surface of the gasoline and the top of the container. Fill vehicle fuel tanks one gallon short of their capacity. Gasoline, like any liquid, expands as its temperature increases. In some parts of the country, stored gasoline might encounter temperatures as much as 50-degrees F higher than the temperature at which it was dispensed. A 50-degree temperature increase causes gasoline to expand about 3.5%. If there is no air space in the container for this increased volume to occupy, either gasoline will be forced out of the container or the walls of the container will be distorted.
Chevron additionally advises that to avoid a fire when handling gasoline away from the service station, keep the gasoline away from any ignition source (flame or spark) and any ignition source away from the gasoline. There should not be an appliance pilot light or igniter within 50 feet of where gasoline is stored or handled. Gasoline fumes, which are invisible and heavier than air, can travel along the ground for some distance when they are not dispersed by air currents. If ignited, the fumes become a fuse that brings the flame back to the liquid gasoline source.
Even breathing gas fumes can be harmful! Gasoline can be a health hazard if you inhale concentrated fumes for too long or get it on your skin. Symptoms of overexposure to gas vapors include: Respiratory problems such as coughing and trouble breathing, rash from skin contact with gasoline, irritation or burning in the eyes from gas splashes, dizziness, weakness, numbness in arms and legs or burning sensation, rapid heartbeat, nausea or vomiting. If you experience any symptoms from inhaling gasoline vaporizers, get to fresh air immediately. If symptoms persist, seek medical treatment. If someone becomes unconscious from breathing gas vapors, bystanders should immediately call 911. (Long-term exposure to gasoline vapor has caused cancer in laboratory animals!)
According to the National Fire Protection Association, nearly 150,000 fires occurring in the United States every year are caused by gasoline; about 500 Americans die every year in gasoline-related fires; almost half a billion dollars in property damage can be linked to gasoline annually; one gallon of gasoline has the explosive power of 20 sticks of dynamite!
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Safeguard Your Identity |
Did you know that unsolicited pre-approved applications for credit cards are a prime target for ID thieves who use them to divert funds to themselves? To help protect your identity, you can opt out of pre-approved credit card offers that arrive in the mail by calling 888-5OPTOUT (1-888-567-8688), a Federal Trade Commission approved number which processes your request to creditors and prevents you from receiving unsolicited applications for a five-year period.
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Fast-Track to Success |
Have you ever wished that there was a short-cut to success -- a way to avoid a lot of the hard work and adversity that you always read about in motivational books? Well, actually there is! I would like to share with you a powerful strategy for achieving your goals as quickly and easily as possible.
The easiest way to get on the fast track to success and achieve your goals is to find someone who has already achieved what you want and then find out how they did it. Unfortunately, when many of us set a goal, we try and reinvent the wheel and figure things out for ourselves. This usually leads to countless wasted hours and unnecessary frustration. No matter what your goals are, someone somewhere has already achieved the results you are after. All you have to do is find them, learn how they did it, and then do the same thing.
When searching for a "mentor," here are two important things to keep in mind: (1) Make sure that the person you are taking advice from has achieved the exact goal that you are trying to achieve, and don't just take their word for it. Look for undeniable proof that they have achieved success. (2) Don't think that you have to meet your mentor in person in order to obtain their advice. These days you can access the wisdom of successful people from any field through books, audio CDs and home study courses. You can also obtain a wealth of free information by subscribing to high quality newsletters.
So here it is ... the simplest but most powerful way to achieve your goals in the shortest time frame possible:
Step 1: Know what you are trying to achieve. As always, the starting point to success is to know exactly what you want.
Step 2: Find someone who has achieved the results you want and make sure that they are the "real deal" by looking for undeniable proof.
Step 3: Find out how they did it by subscribing to their newsletter or purchasing their books, CDs or home study courses. (Tip: Always start with a free or low-price product first so that you can assess the quality of the information provided.) Step 4: Stop trying to work things out for yourself -- just follow your mentor's advice and do what they did.
(Reprinted with permission from Dr. Anthony Fernando, www.anthonyfernando.com)
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Notary Facts |
Notaries many times are faced with attempting to make a decision as to which type of notarial certificate and the proper wording to be attached to a document presented for notarizing. The Texas Secretary of State reminds all Texas Notaries that a notary public is not an attorney and should only complete a notarial certificate which is already on the document, or type or attach a certificate of the document maker's choosing. If a notary public is presented with a document that does not contain a certificate and he/she decides which certificate to attach, that Notary would be illegally "practicing law." Instead, the Notary may allow the person for whom the notarization is performed to choose among the sample certificates provided to the Notary with the Notary's commission.
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Product Recalls |
 The following recent recalls were issued by the U.S. Consumer Product Safety Commission: Superior VFGL Vent-Free Gas Log Sets and VF Vent-Free Fireplaces (Mfg: Lennox Hearth Products, Nashville, TN); Indoor and Outdoor Extension Cords and Power Strips (Mfg: Howard Berger Co., Cranbury, NJ); Glass Water Bottles (Imp: Crate and Barrel, Northbrook, IL); Six Tier Chrome Shelving Unit (Mfg: King Long Metal Industrial Co., Trumbull, CT).
More details on these and other products including product pictures can be found at www.cpsc.gov. To report a dangerous product or a product-related injury call CPSC's hotline at 800-638-2772.
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May 2010 Holidays, Observances, Celebrations and Events |

May 1: May Day, Law Day, Join Hands Day, Save the Rhino Day; May 2: Brothers and Sisters Day; May 4: National Teachers Day; May 5: Cinco de Mayo; May 6: National Day of Prayer; May 9: Mother's Day; May 10: National Receptionist Day; May 12: International Nurses Day, Fibromyalgia Awareness Day; May 15: Armed Forces Day, Peace Officers Memorial Day; May 21: National Waiter/Waitress Day, National Defense Transportation Day; May 22: National Maritime Day; May 24: Victoria Day; May 25: National Missing Children's Day, National Tap Dance Day; May 31: Memorial Day.
Notice: Mazon offices will be closed on Monday, May 31st in observance of Memorial Day. We will resume normal business hours of 8:30 a.m. to 5:00 p.m. on Tuesday, June 1st. You may still submit invoices during our closed hours via fax, e-mail or drop-slot to be processed on Tuesday.
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Shed Stress |
It has long been suspected that contact with nature can reduce stress, produce positive feelings, and ease the suffering of the sick. New research confirms that belief. "Patients were randomly assigned to hospital rooms with or without plants during their postoperative recovery periods," explains Science Daily. Patients who had plants in their rooms experienced less pain, needed significantly less pain medication, had better heart rate and blood pressure, and reported greater satisfaction with their rooms than their counterparts. Some 93 percent of those exposed to plants said that these were the "most positive" aspect of their rooms.
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Thoughtful Thoughts |
A mother is the truest friend we have, when trials heavy and sudden, fall upon us; when adversity takes the place of prosperity; when friends who rejoice with us in our sunshine desert us; when trouble thickens around us, still will she cling to us, and endeavor by her kind precepts and counsels to dissipate the clouds of darkness, and cause peace to return to our hearts.
Washington Irving (1783-1859)
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Up in Smoke |
From our humor archives, we bring you the story of a man from Charlotte, North Carolina, who, having purchased a case of very expensive cigars, insured them against, among other things, fire. Within a month, having smoked his entire stockpile, the man filed a claim against the insurance company, stating that the cigars were lost "in a series of small fires." The insurance company refused to pay, citing the obvious reason that the man had consumed the cigars in the normal fashion. The man sued -- and won.
In delivering the ruling the judge, agreeing that the claim was frivolous, stated nevertheless that the man held a policy from the company in which it had warranted that the cigars were insurable and also guaranteed that it would insure against fire, without defining what it considered to be "unacceptable fire," and was obliged to pay the claim. Rather than endure a lengthy and costly appeal, the insurance company accepted the ruling and paid the man $15,000 for the rare cigars he had lost "in the fires."
After he cashed the check, however, the company had him arrested on 24 counts of arson. With his own insurance claim and testimony from the previous case being used against him, the man was convicted of intentionally burning his insured property and sentenced to 24 months in jail and a $24,000 fine.
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Earn 10% Monthly Referral Fees! |
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No Expiration Date!
 Most of Mazon's clients have come to us through referrals of current and former clients. We rely heavily on word-of-mouth marketing to bring in new clients. Our monthly referral payment to you is 10% of our monthly factoring fee (determined at the time of client sign-up) and continues for as long as the business remains with Mazon Associates.
Potential clients include start-up businesses, high-growth businesses, undercapitalized businesses with historical operating losses, businesses with tax liens, turnaround situations. Other potential clients could be businesses who have been turned down for a bank loan and/or do not currently meet a bank's credit criteria; have delivered a service or product to other businesses and have invoices that can be independently verified; expresses cash flow problems and have a cash flow need; and/or companies expecting rapid growth. The potential client can be located in any of the 50 contiguous United States.
Prospects are usually businesses that are manufacturers, distributors and service companies. Traditionally, Mazon has had businesses in the following areas: advertising; apparel, courier/delivery services, environmental service companies; manufacturing; printing; start-up and early stage/growth companies; staffing companies; telecommunications; and transportation.
We do not accept businesses which have a majority of consumer receivables such as retail businesses, progress billings, third party pay medical receivables and certain construction-related businesses.
For more information on our referral program, please contact Lisa Mazon at 972-554-6967 ext. 238 or 1-800-442-2740, or by email lisa@mazon.com.
(You are not required to be a Mazon client to refer a business and receive a referral fee!) | |
 If you liked this issue of Building Bridges, please forward it to a friend. We invite you to share your newsletter thoughts with us. If you would like to submit an idea, article or joke for consideration in a future issue of Building Bridges, or just want to tell us how we are doing, please email our creator and editor, Linda Burson, at MazonNewsletter@Mazon.com.
Building Bridges carries no paid advertising. All articles, images and links are for our readers' knowledge and enjoyment only.
Mazon Associates, Inc.
600 W. Airport Fwy., Irving, TX 75062
P.O. Box 166858, Irving, TX 75016
Telephone: 972-554-6967 Toll Free: 800-442-2740
Fax: 972-554-0951
Business Hours: Mon.-Fri. 8:30 a.m. - 5:00 p.m.
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